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SEB Slashes 2,100 Jobs by 2027
25 Feb
Summary
- SEB plans a global restructuring impacting up to 2,100 jobs by 2027.
- The company aims for 200 million euros in cost savings by the end of next year.
- Operating results are expected to rise this year after a 2025 drop.
French appliance manufacturer SEB announced a major restructuring initiative, slated to impact up to 2,100 jobs globally by 2027. Approximately 1,400 of these positions are located in Europe. This plan aims to achieve significant cost savings of 200 million euros by the close of 2027.
The restructuring involves reducing indirect purchases, enhancing industrial efficiency, and optimizing recurring costs. SEB, which currently employs 32,000 individuals, anticipates a one-time expenditure between 1 and 1.25 times the projected annual savings, with provisions in 2026 and payments in 2027.
Despite a 25% drop in operating result in 2025, SEB forecasts an increase in its operating result from activity this year. The company also aims to reduce its net debt leverage to 2 times its adjusted earnings by 2027. Earlier, SEB had revised its annual profit and revenue forecasts downward in October due to slower sales in Europe and cautious consumer and business sentiment in the U.S.
